Response to Federal Government Investment Package for New & Emerging Technologies and Fuel Security

Bioenergy Australia

Bioenergy Australia welcomes the Federal Government announcement for investment in new and emerging technologies, including $1.62 billion for the Australian Renewable Energy Agency (ARENA), and the expansion focus of ARENA and the Clean Energy Finance Corporation (CEFC) to back new technologies that will cut emissions in agriculture, manufacturing, industry and transport.

Shahana McKenzie, CEO of Bioenergy Australia, said the renewed commitment to ARENA is an important step in the creation of future-focused jobs and emissions reductions, helping to power a strong pathway for a clean energy future and assist the economic recovery from COVID-19.

“As a dedicated funding body, ARENA has been able to drive considerable progress for existing and emerging renewable technologies over the past eight years, including several bioenergy projects. We look forward to working with the ARENA team to deliver Australia’s energy transformation through the National Bioenergy Roadmap,” said McKenzie. 

McKenzie said the reduction of time for developing new methods for the Emissions Reduction Fund is key to unlocking emissions reduction potential across agriculture, manufacturing, waste, fuels and renewable gases.

McKenzie also explained the Federal Government’s commitment to a new $74.5 million Future Fuels Fund, which includes hydrogen, electric, and bio-fuelled vehicles, is hugely positive to see.

“The Future Fuels Fund commitment, combined with the $211 million announcement on Monday to secure Australia’s long-term fuel supply including the creation of a market mechanism to support local refineries – if applied to renewable fuel sources such as renewable diesel, biodiesel, biojet fuel and bioethanol – could support the decarbonisation of our transport sector while securing our domestic fuel supplies and creating new job opportunities across the country. It’s a ‘one stone three birds’ opportunity,” said McKenzie.

“The Government’s recognition that the future refining sector in Australia will not look like the past can be seen as a ray of hope for the small but mighty biofuels industry in Australia. We look forward to working together to scale and develop the many opportunities for clean fuels to the benefit of all Australians, “ concluded McKenzie.

/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.